When a company has business on several European markets, having different card suppliers in every country is not unusual. This often leads to unnecessary costs. Choosing a single card supplier for all countries is a much smarter option.
Cost savings and efficiency measures are for many companies the most important tools for making a difference on the bottom line. Especially in times when it is hard to see market share growth.
So why is it so hard for companies to find savings that really make a difference? It is often a question of bad routines that are hard for companies to detect – and therefore even harder to address.
Ultimately, it is all about the administrative things. For instance, if you have an agreement with ten different suppliers of credit cards in ten different countries, you need to handle ten different processes in a variety of expense management systems. These systems are probably not even the same everywhere, which makes it even harder – and more expensive – to manage.
If you instead choose to work with a single supplier, you will have a cohesive solution that works across all of Europe. One process for application and renewal, one set of terms and agreements. Imagine the savings it would mean for the company in time and money – in both short and long term.
This way of working also allows you to add overall administrative tools to help you handle daily management, with anything from issuing cards to real-time credit limits across Europe.
Keep in mind:
- Working with different credit card suppliers for different countries means huge hidden costs.
- New technology makes it easier than ever to use a single credit card supplier for all of Europe.
- A common credit card provider in the European countries entails a single process for application and renewal.
- A common credit card provider means there is only need for one TEM system.
- Administrative tools and support for all countries is gathered in one place.